Ashford Hospitality Trust, a real estate investment trust based in Dallas, has closed on a $36 million nonrecourse loan with Merrill Lynch Capital that is secured by five of the REIT's hotel properties.The loan, which includes a holdback provision for $8.2 million of funds targeted for capital expenditures for the five properties, bears interest at a rate of 325 basis points over the London interbank offered rate, Ashford said. It is interest-only for the first two years and contains a one-year extension option. Mortgages were granted as security for the loan on the Embassy Suites in Phoenix and Flagstaff, Ariz., and Syracuse, N.Y., and the Doubletree Guest Suites in Columbus and Dayton, Ohio. The REIT can be found online at http://www.ahtreit.com.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3